Hehe, in the bitcoin world it is fairly honest.

I mentioned previously in another thread but I will say it again here.

If you look at most sites in the bitcoin world which actually have a ToS, it is generally a laundry list being very repetitive, but in specific ways, and then in general, that they are not responsible. It is like saying "
If you buy my car:
* I am not responsible if the breaks go out
* I am not responsible if you get a ticket
* I am not responsible for the current condition of the car
* I am not responsible for any problems that may occur due to the on-board computer being linked to my systems which may cause your car to suddenly combust
* I am not responsible or liable for any damages
etc
"

In then end, it's just making a fool out of you, because no where in there, do they state that they ARE responsible for anything or give you any expectations other than loss.

Very very few sites take any responsibility for any actions that may occur.

For example. how many sites do you know that suddenly claim "We've been hacked!" and what happens? You end up with a negative balance.
Or they just go away and never come back. Why not? They have no obligation to have to pay you back, other than their reputation.
You cold contact authorities etc, but in the bitcoin world, its a very tough thing to deal with. But I am getting off topic.

In the end, most sites take no responsibility for your use of their site. That's that.
Very few such as BitFunder even offer to try to do their best.
The majority of it (Section below what you copied) is a larger list of things that BitFunder promises to do, and has expectations of.
Again, not many sites bother with what you should EXPECT from then.

I do not see any reason to give 20 pages of reading about responsibility deferment in detail when it can all be summed up, and provide you with a list of expectations instead.

On a side note, it will actually be changed to have a little more legalese hopefully within the next few months due to greater things.
Have a cookie.

There is a nice analyzer coming soon.

I have a large large batch of things.
Some are designed and need implemented.
Some are partially implemented, some are partially designed.

But there is a _lot_ going on.

Once the current "big" project for BF is done, you will see more daily updates again.

Can you tell us what country this would be? I am sure people would be happy to know that it will be legal wherever it is.

Large notification system is in the works.

The more info you put out there, even if it is sometimes repetitive, the more people will understand things.

Keep in mind, the bitcoin community suffers from a very very large amount of fraud. You saw the accusations from your other security.
Everyone (or the smart ones) are very skeptical of things.

In this case you have a site that is still in the works, with a domain less than two weeks old, that is not in-itself a registered business yet, and asking people to invest hundreds of thousands of dollars into it a month before launch, and 2(?) months before returns. (Yes, you will launch regardless of the number sold.)

As someone said before, people are just afraid (regardless of reputation, Pirate had a great one) that the money will either a. just be taken, or b. the launch fails due to poor positioning, planning, efforts, etc.
This is why people have questions and are giving the strip search.

In the end you profit in-pocket for any shares sold regardless of if it fails. If the first 20k shares sell, then that is about USD $160,000 currently.
Not bad for what appears to be a month of work. (Or less)

You could even then sell it as a turn-key exchange. This would leave the shareholders holding the ball and stuck with whoever buys it, and your team has pocketed even more money.
So no matter what happens, it is win-win for you, just not the investors. Of course, the better scenario for both is if it works out and rakes in a ton of profit.

Actually, you should write a clause in the contract of money distribution if the company sells, and what documents must be made public to prove it.
(Not that a sum could be paid on the side. There is always room for scam accusations no matter how hard anyone tries.)
Also perhaps some sort of minimal value requirements to be able to sell?

Speaking of fraud, can you share your AML / KYC requirements?

There are just a lot of things for people to consider in this kind of situation, and you need to be ready to answer them. Good answers get great results!

Hey Neo,

I think you could just remove the 'partner' text and put 'Bitcoin Forum'. That should work out I think.

You mentioned that the payment processors are just for display purposes.
Can you tell us what payment methods you have available currently?

It would be nice to know what things on the site are 'for display purposes' and what are real for the site.

Do you have any market movers already signed up to be able to provide liquidity to start the platform to trade?

I know people are asking you a lot of questions and it can be tiring, but that's okay, it is a good thing. That means they are interested, and making more people interested.

This is a product, and you have to sell it.
People want to know if they throw their BTC at you (when BTC is at a 2yr high and may go higher) that it is a better investment than sitting on it watching it go up. (and down)
They want to understand why your site will be so great that people will choose it over others and what your plans are to make that happen.

"Confidence is key." We are all just trying to help make the IPO a success.

Yup, it will be #.####,#### when its supported right all over the site.

A summary update sounds like a great idea. I think its about time.

Hehe, it was actually a nice reminder that I needed to finish upgrading to it.
It was far cheaper than amstocks was for the large scope needed.

As of many many many hours ago, DeadTerra shared with me a msg from Friedcat confirming 11,032 shares within DT's control.
All shares are live on the asset with a pretty new live-updating chart.

https://bitfunder.com/asset/G.ASICMINER-PT

Already in the works.
Also have a special charting options I am going to setup once I push out the big project.

And it just got better.

I just set it to live update every 15 seconds showing any new trades. So you can just sit and watch the trades slide by.

Depending on server load I may move this up or down as time goes by.

Hey everyone,

I needed a break from wrapping up the current big BitFunder project so I decided to spend a half hour adding a new graph!

New graph type is now default graph tab to the asset page.
The new one allows you to save images of the graphs, and even pdfs.

Here is an example for sheer fun!



The older style graph is still available on the 'Alternative History Graph'.

I am still fine tuning it so it will work better with the images and other features.

Ahh yeah, I think one too many.

How so?

I see 8,618 shares left remaining on the asks for that price.

That is an interesting question, how can it be done fairly for all holders. I think it might be impossible to ask for all share holders to pay in X btc equally.
Also unfair that others might be forced to contribute more to get it done, and not get fair compensation.

Can't really sell additional shares of the fund because then those shares would get unfair access to the other debts and decrease current shareholders value.

The only possible method I see, is if someone lent the fund the remaining 160ish needed btc to buy shares, and the fund agreed to pay them back with a set interest rate.

This would wipe out the 120btc currently in hand and create a debt of 160btc(+interest) for 400 more shares of AM and to be "given" a test board that has a hashrate of (??)mh at some later time not yet disclosed.

I think it would be hard to get people to agree to that though, at least in a high majority fashion. By doing this, it is actually almost like continuing the fund and less closure.

Hey Neotrix,

I am kind of curious about it being in HongKong.
My understanding is that eCurrency is illegal in China and HongKong?

Agreed, both exchanges benefit from similar PT's as it encourages arb trading.

"and they can choose to move them without charge."